US: Vertical farming company expands by acquiring three farms

80 Acres Farms has acquired three indoor vertical farms and related IP previously owned by Kalera. The farms are located in Georgia, Texas, and Colorado.

"National retailers and foodservice distributors are seeking partners that can consistently supply high-quality product through a national network of local farms," said Mike Zelkind, CEO and co-founder of 80 Acres Farms. "At the same time, there has been significant capital invested in the controlled-environment agriculture sector over the last 10 years, creating an infrastructure of underutilized assets across the country. We are building a national network in a capital-efficient manner by combining our technology and operating strengths to revitalize these facilities."

"Vertical farming has proven an ability to deliver fresh, high-quality produce in markets that cannot support year-round field-grown operations," said Tisha Livingston, co-founder of 80 Acres Farms and CEO of Infinite Acres. "As with our acquisitions of Mother Raw salad dressing and Plantae Biosciences, this acquisition reinforces 80 Acres Farms as a consolidator in the industry. We are excited to acquire strategic operations in the space and codify their best practices and key learnings into our proven technology platform, improving our already profitable farm unit economics."

The newly acquired farms will extend the company's network of large-scale commercial facilities beyond Ohio and Kentucky. 80 Acres Farms grows greens (including spinach), microgreens, tomatoes, and herbs, and has recently expanded its Kentucky farm, which opened in 2023, nearly doubling its capacity. The two companies have complementary commercial relationships with retailers and food distributors that will strengthen 80 Acres Farms' go-to-market capability. Prior to the acquisition, the company served more than 1,500 retail locations, mostly in the Midwest. 80 Acres Farms also owns and operates centers of excellence including R&D facilities in Arkansas, advanced systems and design field lab in the Netherlands, and advanced plant genetics facilities in Israel.

"I could not be more pleased to have found the perfect fit for Kalera in 80 Acres Farms," said Kalera CEO Jim Leighton. "I am extremely impressed with Mike, Tisha, and their entire leadership team. They not only have the technical knowledge to successfully operate vertical farms, but they also have extensive food and produce experience. That, in my opinion, is necessary to be successful in operating a vertical farming company or any food business."